here are many types of insurance that can be hired. You only have to take a look at our compactor to check the varied offer of insurance products that exists, from Car Insurance, with all the modalities that there are, to Home Insurance or Life or Decease Insurance. There are policies that everyone knows and others that most people do not even know how they work.
Types of Personal Insurance
To put order among so many offerings, in the insurance sector there are three types of Insurance:
To put order among so many offerings, in the insurance sector there are three types of Insurance:
Personal Insurance
Damage or property insurance
Insurance of Service Provision
And within each of these classes of insurance, there are policies of the most varied, both in the coverage they offer, and in the way they cover these risks.
Damage or property insurance
Insurance of Service Provision
And within each of these classes of insurance, there are policies of the most varied, both in the coverage they offer, and in the way they cover these risks.
Of all of them, Personal Insurances are those that have people as an insured object, although this protection is applied in many different ways. Today we are going to tell you what they are and what are the types of Personal Insurance that you can hire.
Personal Insurance: definition
Your own name gives the definitive clue the definition of these policies. Personal Insurance or Insurance for People are those that cover the risks that may affect the physical integrity, existence or health of the insured person.
Your own name gives the definitive clue the definition of these policies. Personal Insurance or Insurance for People are those that cover the risks that may affect the physical integrity, existence or health of the insured person.
People are at the center of this insurance product that protects a person, the insured, before the possibility of a loss that affects them directly and personally.
A death, being the victim of an accident with sequels or suffering from a disease or ailment, are situations for which this type of insurance offers various solutions, either in the form of compensation, providing private medical services or as a savings product for the future.
Types of Personal Insurance
Depending on the characteristics of these insurance products, we can classify the Insurance for People in four broad categories:
Depending on the characteristics of these insurance products, we can classify the Insurance for People in four broad categories:
Life insurances
Personal Accident Insurance
Health insurance
Dependency Insurance
Let’s see what characteristics define each of these Personal Insurances.
Personal Accident Insurance
Health insurance
Dependency Insurance
Let’s see what characteristics define each of these Personal Insurances.
Personal Life Insurance
Personal Life Insurance covers the death of the insured or a situation of total and permanent disability due to accident or illness. When contracting a Life Insurance, an insured capital is established that will be paid to the beneficiaries in case the insured risks occur.
Personal Life Insurance covers the death of the insured or a situation of total and permanent disability due to accident or illness. When contracting a Life Insurance, an insured capital is established that will be paid to the beneficiaries in case the insured risks occur.
Among Life Insurance, there are three types:
Death Insurance or Life Insurance Risk
Survival Insurance or Life Insurance Savings
Mixed Insurance
On the other hand, it should be noted that these policies are important in the role played by the three figures that, together with the insurer, intervene in the contract, ie the policyholder, the insured and the beneficiary. If you are interested, in this blog we have talked about the differences between policyholder and insured, and also the beneficiaries of Life Insurance.
Survival Insurance or Life Insurance Savings
Mixed Insurance
On the other hand, it should be noted that these policies are important in the role played by the three figures that, together with the insurer, intervene in the contract, ie the policyholder, the insured and the beneficiary. If you are interested, in this blog we have talked about the differences between policyholder and insured, and also the beneficiaries of Life Insurance.
Death Insurance or Life Insurance Risk
Death Insurance, also known as Life Risk Insurance, is what we associate with Life Insurance. These policies commit the insurer that, in the event that the insured dies before the end of the contract, the insured capital is paid to the beneficiaries designated in the Insurance.
Death Insurance, also known as Life Risk Insurance, is what we associate with Life Insurance. These policies commit the insurer that, in the event that the insured dies before the end of the contract, the insured capital is paid to the beneficiaries designated in the Insurance.
In the event that the contract ends and the insured person has not died, the insurer does not have to pay any consideration. In addition, these policies can also include as optional guarantees, the coverage of situations of disability or accidents.
Survival Insurance or Savings Insurance
In the Survival Insurance, better known as Savings Insurance, the beneficiaries are guaranteed the payment of the insured capital if the insured lives at the moment of the termination of the contract.
In the Survival Insurance, better known as Savings Insurance, the beneficiaries are guaranteed the payment of the insured capital if the insured lives at the moment of the termination of the contract.
They are Insurance designed to guarantee future savings and that have an attractive tax treatment. In this type of policies we can find several modalities:
Insurance Plans Insured (PPA)
Individual Systematic Savings Plans (PIAS)
Individual Long Term Insurance (SIALP or savings plan 5)
Life Annuity Insurance
Unit Linked Insurance
If you are interested in this type of Life Insurance, this posts about Savings Insurance may interest you.
Individual Systematic Savings Plans (PIAS)
Individual Long Term Insurance (SIALP or savings plan 5)
Life Annuity Insurance
Unit Linked Insurance
If you are interested in this type of Life Insurance, this posts about Savings Insurance may interest you.
Mixed Life Insurance
Finally, there are Vida Horror products that include death coverage in their guarantees, so that if the insured person dies, the beneficiaries will charge the insured capital. And if it does not happen, the policy will comply with the profitability agreed in the contract, at the time of its expiration.
Finally, there are Vida Horror products that include death coverage in their guarantees, so that if the insured person dies, the beneficiaries will charge the insured capital. And if it does not happen, the policy will comply with the profitability agreed in the contract, at the time of its expiration.
Personal Accident Insurance
Accident Insurance is the type of policy for people who have a greater presence. When contracting this policy, the insurer undertakes to compensate with an economic amount, in case the insured person suffers an accident that incapacitates him for the performance of his professional activity or, even, causes his death.
Accident Insurance is the type of policy for people who have a greater presence. When contracting this policy, the insurer undertakes to compensate with an economic amount, in case the insured person suffers an accident that incapacitates him for the performance of his professional activity or, even, causes his death.
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